Ajay Yadav has recently taken over as the Managing Director of Solar Energy Corporation of India Limited (SECI). SECI is an important organization under the central government that is responsible for conducting auctions for renewable energy projects. It plays a crucial role in implementing various renewable energy schemes and projects as the main executing agency under the Ministry of New and Renewable Energy, Government of India.
About The Solar Energy Corporation of India Limited (SECI)
The Solar Energy Corporation of India Limited is a government company under the administrative control of the Ministry of New and Renewable Energy (MNRE). It was established in 2011 with the primary objective of facilitating the development and deployment of solar energy in the country.
SECI plays a crucial role in implementing various solar energy projects and initiatives in India. Its main responsibilities include the development of solar parks, promotion of solar power projects, tendering and auctioning of solar capacities, and facilitating the procurement of solar power by government entities. SECI also acts as an intermediary between project developers, state governments, and central government agencies to streamline the implementation of solar energy projects.
SECI has played a crucial role in India’s renewable energy sector, with over 58 GW of Renewable Energy project capacities awarded so far. The corporation has been instrumental in promoting and facilitating solar energy projects, making significant contributions to the country’s sustainable energy objectives.
One of SECI’s notable achievements is the trading of over 35 billion units (BU) of renewable energy power during the FY 2022-23, marking a substantial 59 percent increase compared to the previous year. This surge in trading volume has resulted in SECI’s power trading revenue surpassing Rs. 10,000 crores for the first time since its establishment.
SECI’s commitment to renewable energy is further reinforced by its status as a Mini-Ratna Category-I CPSE (Central Public Sector Enterprise) and its AAA credit rating awarded by ICRA, which highlights the corporation’s financial strength and stability. These factors contribute to SECI’s credibility and position as a key player in the renewable energy sector.
In addition to solar power, SECI is also involved in the development of other renewable energy sources such as wind and hybrid power projects. It plays a pivotal role in supporting the government’s efforts to increase the share of renewable energy in the country’s energy mix and promote sustainable development.
SECI continues to work towards the advancement of solar energy in India by implementing innovative policies, programs, and projects to harness the abundant solar potential of the country and contribute to its energy transition.
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FAQs
Where is the largest solar power plant in India?
What is India’s solar power generation target?
India has set a target of achieving 450 GW of installed capacity through renewable energy sources by 2030. Of this, 280 GW is expected to come from solar power. India has already made significant progress in solar power generation. In 2021, the country’s installed solar power capacity was 49.3 GW. This is more than 18 times the capacity in 2014. In 2022, India added 12 GW of solar power capacity.
